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Trisura Group raises C$58M via public offering, private placement

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Trisura Group raises C$58M via public offering, private placement

Trisura Group Ltd. completed its planned bought-deal offering and a concurrent private placement, raising gross proceeds of around C$58 million.

Under the bought-deal offering, the company issued 1,743,400 common shares at C$26.40 each to a syndicate of underwriters led by Cormark Securities Inc. and BMO Nesbitt Burns Inc. for about C$46 million. This includes 227,400 common shares as underwriters fully exercised their overallotment option.

Additionally, Trisura raised about C$12 million by issuing 378,788 common shares to its principal shareholder, Partners Value Investments LP, and an aggregate of 75,751 common shares to certain investors in the private placement.